Posted on Jan 11, 2012 in Roseville and Sacramento Short Sale FAQs

Thanks for visiting my blog today. I’m Mark Peek with Keller William’s Real Estate, your short sale specialist in the Roseville and Sacramento area. If you are in the midst of foreclosure, or headed towards it, I can offer you a solution that can solve some of your financial problems: short selling your home.

I wanted to talk to you today about the Mortgage Debt Relief Act because a lot of people don’t realize that if you have an intention of considering a short sale in the near future, the Mortgage Debt Relief Act expires at the end of 2012. At this time, there’s no indication that it will be extended. You might be asking what the Mortgage Debt Relief Act is. If you are a short sale seller, when you close on your short sale, you’ll receive a 1099 for the difference of how much you owed and how much the bank netted on the sale of your home.

If you are considering doing a short sale, I wouldn’t risk what could happen at the end of the year. With 2012 being an election year and the Mortgage Debt Relief Act expiring, there is a lot of uncertainty out there in regards to the real estate market. The government wants more taxes and they may take a look at this law and all of the forgiven debt and do away with it.

If you are interested in doing a short sale, please give me, your short sale specialist, a call today. You can also fill out the "Getting Started" Form on my website and tell me about your specific situation. By allowing me to sit down and discuss your specific situation, I can help you determine if short selling your home is the right choice for you. Should it be the right decision, I can provide you with the information and education you need while walking you through the process to successfully short sell your home.

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